I'm not sure how low it will go, but if you hang in there, I think it's very possible to see $23-$30 within a year or two. Minus the debt adjustment this quarter, they exceeded earnings expectations and their future earnings growth looks good. IMO, the shares are worth about $23 right now, so if you're willing to hang in there, I can't see why you shouldn't get an opportunity to sell them for $23 minimum in the future. As far as averaging down, you don't sound very confident in this stock so I wouldn't advise investing even more capital. There's always the chance that it won't recover and just sink lower and lower, but based on last quarters earnings, I don't see how that's possible in the long term. Good luck to you.
There are a lot of put options at $16 for May 16th being sold though. Me thinks the short term prospects are not looking good, but I would hold if I were you. No sense taking a loss on a stock that will probably recover to at least the low to mid 20s eventually.